Ero Copper Corp. (TSX: ERO, NYSE: ERO) (“Ero” or the “Company”) is pleased to announce an initial National Instrument 43-101 (“NI 43-101”) compliant mineral resource estimate for the Furnas Copper-Gold Project (“Furnas” or the “Project”), located in the Carajás Mineral Province (“Carajás”) in Pará State, Brazil.
The initial mineral resource estimate highlights significant potential for the Project. At a 1.00% copper equivalent (“CuEq”) cut-off grade, the mineral resource estimate, effective June 30, 2024, totals:
- Indicated Mineral Resource: 35.2 million tonnes grading 1.04% copper and 0.69 grams per tonne (“gpt”) gold (1.36% CuEq1), containing an estimated 364,700 tonnes of copper and 775,300 ounces of gold
- Inferred Mineral Resource: 61.3 million tonnes grading 1.06% copper and 0.63 gpt gold (1.36% CuEq1), containing an estimated 647,400 tonnes of copper and 1,235,600 ounces of gold
This estimate is supported by more than 90,000 meters of historic drilling on the Project, conducted by Vale S.A. and Anglo American plc, as well as a resampling and database validation program undertaken by the Company.
“We are extremely pleased with this initial mineral resource estimate for Furnas. It provides a solid foundation upon which we can focus, over the coming months, on unlocking further potential,” said David Strang, Chief Executive Officer. “Our Phase 1 drill program will target two key objectives: improving the definition of high-grade zones through infill drilling and extending known mineralization within these zones beyond the historically drilled depth of approximately 300 vertical meters from surface.
“Furnas presents a tremendous opportunity to define a major copper-gold mineral resource capable of supporting a large-scale underground mine. Our experience in underground mining in Brazil, coupled with the successful construction of our new Tucumã mine and processing plant in the Carajás, positions us well to advance this Project.
“Together with our partners at Vale Base Metals, we are committed to progressing Furnas in a manner that delivers sustainable benefits for all stakeholders and reinforces Brazil’s position as a global leader in the responsible, low-carbon production of critical minerals.”
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